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RUNNING LOW ON MONEY? CONGRESS HAS MADE IT EASIER FOR YOU TO TAP YOUR RETIREMENT SAVINGS

Article Highlights COVID-19 Tax Benefits Retirement Plan Withdrawals Waiver of 10% Early Withdrawal Penalty Retirement Plan Loans Roth IRAs Other Sources of Income Way to Reduce Payments  If you are struggling financially due to the COVID-19 epidemic, you will be happy to know Congress, as part of the CARES Act enacted on March 27, has made it easier for you to access your…
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The cosmic perspective on self-isolation

This was a great article I found on Axios that has some helpful perspective for our Coronavirus times. Written by Miriam Kramer. The perspective space providesis essential during these troubled times. Why it matters: Astronauts live in isolation and look down on our planet with a view that can bring people out of their own experiences,…
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Need Cash? Try to Avoid Retirement Accounts

Article Highlights: Early-Withdrawal Penalties Reduction in Retirement Savings Exceptions from the Early-Withdrawal Penalty  If you find yourself looking for a quick source of cash, your retirement savings may look like a tempting option. However, if you are under age 59½ and withdraw money from a traditional IRA or qualified retirement account, you will likely pay both income…
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Congress Does Away with Stretch IRA

Article Highlights: Taxability of DistributionsStretching DistributionsSECURE Act ChangesTen-Year RuleSpouse ExceptionOther ExceptionsNaming Beneficiaries On December 20, 2019, President Trump signed into law the Appropriations Act of 2020, which included a number of tax law changes, including extending certain tax provisions that expired after 2017 or were about to expire, a number of retirement and IRA plan…
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